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Founders Factory backs mortgage platform Acre in £6.5m round

Acre seed
Image credit: Acre

Mortgage platform Acre has secured £6.5m in late seed funding from the McPike Global Family Office, Aviva and Brent Hoberman’s Founders Factory.

Acre is used by brokers, banks and insurers to store insurance products and client information.

It provides mortgage applicants with a hub to verify their identity, submit information, track an application’s progress and contact advisors.

Justus Brown, CEO and founder of Acre, said: “We give brokers the right tools, data and insight at the click of a button, so that they can excel at delivering speedy, efficient advice that meets the individual requirements of each case in a dynamic market.”

London-based Acre will now focus on acquiring more customers along with adding new lenders and insurers onto its platform.

According to the mortgage software company, it has more than 1,300 users making up at least “£10bn in annual mortgage volume”.

Founded in 2018, Acre previously raised £5m in funding led by Aviva and Sesame Bankhall Group in 2019.

Acre is an alumnus of Founders Factory’s spinout studio, run in partnership with Aviva. Founders Factory was co-founded by Hoberman, who also co-founded Founders Forum Group, which is currently in discussions to acquire the brand of Tech Nation following its closure.

Other investments from Founders Factory this year include autonomous cargo drones startup Dronamics and employee digital mental health platform Syndi Health.